Common use of Establishment of Governing Board Clause in Contracts

Establishment of Governing Board. There is hereby created a governing body for the administration of this Agreement to be known as the “New York Liquid Asset Fund Governing Board” or the “NYLAF Governing Board” and referred to in this Agreement as the Governing Board. The Governing Board shall administer all the provisions of this Agreement and be the contracting party under this Agreement with respect to all Third Party Agreements and agreements for services provided by professionals and specialists, except for a Custody Agreement and any Third Party Custody Agreement which shall be contracted in the name of the Fund. The predecessor to the Governing Board known as the Advisers or the Board of Advisers has been and is abolished, with no power, responsibilities or liabilities whatsoever thereafter.

Establishment of Governing Board. There is hereby created a governing body for the administration of this Agreement to be known as the “New York Liquid Asset Fund Governing Board” or the “NYLAF Governing Board” and referred to in this Agreement as the Governing Board. The Governing Board shall administer all the provisions of this Agreement and be the contracting party under this Agreement with respect to all Third Party Agreements and agreements for services provided by professionals and specialists, except for a Custody Agreement and any Third Party Custody Agreement which shall be contracted in the name of the FundtheFund. The predecessor to the Governing Board known as the Advisers or the Board of Advisers has been and is abolished, with no power, responsibilities or liabilities whatsoever thereafter.

Establishment of Governing Board. There is hereby created a governing body for the administration of this Agreement to be known as the “New York Liquid Asset Fund Governing Board” or the “NYLAF Governing Board” and referred to in this Agreement as the Governing Board. The Governing Board shall administer all the provisions of this Agreement and be the contracting party under this Agreement with respect to all Third Party Agreements and agreements for services provided by professionals and specialists, except for a Custody Agreement and any Third Party Custody Agreement which shall be contracted in the name of the FundLead Agent. The predecessor to the Governing Board known as the Advisers or the Board of Advisers has been and is abolished, with no power, responsibilities or liabilities whatsoever thereafter.